NDX, SPX Reverse Friday's Selloff, Close above Low Day in Bull Flag Bounce...Technology, Communication Services, Utilities Led Sectors...

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SPX +91.93, 6,329, gapped this morning and reversed Friday’s selloff in a bull flag bounce.  Breadth strengthened significantly on Monday as buyers returned to the futures market Sunday evening and continued buying after Monday’s open until the close. Advancers led decliners on the exchanges and in the major indexes.

NDX +1.87%, reversed Friday’s selloff in a bull flag bounce. 

DJI, 44,173 +1.24%, reversed Friday’s selloff led by strength in GS, MSFT, HD, NVDA.   

NVDA +6.28, +3.62%, new high close, above the HOLD.

AVGO +9.08, +3.15%, bull flag bounce, close above the HOLD.

META +26.36, +3.51%, reverses Friday’s selloff, close above the HOLD.

MSFT +11.53, +1.76%, reverses Friday’s selloff, bull flag setup.

IPOs from last week AMBQ -3.42% and FIG -27.38% both closed lower.

Mega caps NVDA, META, AVGO, GOOGL, MSFT, TSLA, TSM, AAPL rose and AMZN, BRK/B fell on Monday. 

SPY up 9.45 at 631.17, reverses Friday selloff, 73.1 million shares, average volume, closes above the high of the low day,

VIX down 2.86 at 17.52

QQQ up 10.22 at 564.10

NVDA, MMM, DIS, GS led DJIA, 28 advancers, +17

IDXX, WSM, PCG, TPR led SPX, 427 advancers, 

BIIB, EA, REGN, KDP, LRCX led NDX, 86 advancers,

Up: IWM, QQQ, SPY, DIA,

Down:

The SPY MFC green line is down at 82.3, price closed above the high of the low candle and is short-term bullish. -3.1

Ten of eleven sectors were higher on Monday led by XLK, XLC and XLU.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB, XLRE,

Neutral sectors: XLP, XLE, XLV,

Down trend sectors:

The 6-month intermediate trend breakout is up.  The ten-day trend is up a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

86 of 100 NDX stocks closed higher on Monday.

44 NDX stocks are above their 30 DMA: AVGO, MSFT, NVDA, AMD, CSX, WBD, DASH, CSGP, GOOGL, AEP, SNPS, CDNS, FAST, PEP, CCEP, AMGN, TTD, REGN, ORLY, PLTR, XEL, MDB, PDD, BKR, CEG, ROST, TMUS, GILD, INTU, APP, AZN, CTAS, FANG, META, BIIB, EA, VRTX, ADSK, CSCO, IDXX, KLAC, LRCX, MRVL, TRI,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

ADSK, CSCO, IDXX, KLAC, LRCX, MRVL, TRI,

Moving Below 30 DMA = 1

KHC,

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